- Ondo’s price rose 4.11% in the past 24 hours on strong volume.
- USDY yieldcoin launches on Stellar, expanding global access.
- A breakout above the long-term trendline boosts bullish sentiment.
- The $1.17 resistance level remains the key upside target.
Ondo is gaining momentum, with growing market interest and bullish sentiment fueling expectations of a potential surge. Over the last 24 hours, the asset gained 4.11%, adding to a weekly rise of 2.85%.
At press time, the token is trading at $1.05, supported by a trading volume of $270.22 million, up 66.01% over the last 24 hours. Market capitalization has also grown to $3.33 billion, reflecting an increase of 4.19%. These figures highlight strong investor participation, driven by both strong fundamentals and new developments.
Also Read: ONDO Price Analysis: Bullish Structure Points to $3 Rally Potential
USDY Deployment on Stellar Expands Global Reach
A major catalyst for Ondo’s rise comes from its announcement at the Stellar Meridian event in Rio de Janeiro. Ondo Finance revealed the deployment of its flagship United States Dollar Yield (USDY) token on Stellar, a blockchain known for low-cost and fast transactions.
USDY is a yield-bearing coin backed by U.S. Treasuries and offering global users direct access to stable on-chain income opportunities. This integration also strengthens Stellar’s goal of providing efficient cross-border payments while extending Ondo’s real-world asset tokenization efforts to new markets.
Ondo Breakout Signals Shift in Market Structure
A crypto analyst highlights a significant shift in Ondo’s market structure. After closing above a descending trendline in place since late May, Ondo’s price action indicates a breakout attempt now being retested. Support around $1.05–$1.00 remains critical, with buyers showing resilience at these levels.
Analysts identify $1.1693 as the next major resistance level, a zone that overlaps with a prior swing high. Sustained momentum could push the price toward $1.25–$1.30, while losing the breakout level may trigger pullbacks to $0.95 and $0.90. The shift above the trendline resistance suggests bulls are gaining strength.
Indicators Confirm Ongoing Bullish Momentum
Momentum indicators further support the bullish case, although early warning signs of decay are being seen. The MACD (12, 26, close) reading sets the MACD line at 0.03002, above the signal line at 0.02099, with the histogram at 0.00904 in the plus column. That suggests intense buying pressure, although narrowing histogram bars suggest that momentum may be easing.
The RSI (14, close) is at 58.02, while the signal line is at 56.30. That places RSI in a neutral-to-bullish area, well below the overbought level of 70. The up-angle confirms continued purchasing interest while allowing room for more upside if the surge persists. Both MACD and RSI confirm bullish strength, yet also signal that a clear breakout above $1.17 is needed for a stronger continuation upswing.
Also Read: ONDO Price Breakout Alert: Expert Targets $1.40–$1.71 as Momentum Surges
